Silver Prices

Silver prices averaged USD 31 per troy ounce in November, down 4.4% from October. On 29 November, the commodity traded at USD 30.07 per troy ounce, down 8.0% from 31 October.

Silver prices shaved off some of the prior month’s gains in November, as markets priced in slower-than-previously-expected monetary easing in the U.S. following Trump’s reelection. Other factors denting demand for the precious metal included the Israel-Hezbollah ceasefire, a stronger USD and higher U.S. treasury yields in November vs October. That said, the escalation of the Russia-Ukraine war and expectations of additional stimulus measures in China limited the fall in prices.